In this study, a controlled drug delivery system (DDS) was developed by coaxial electrospinning. Fabricate a controlled DDS using electrospun nanofibers formed with a single concentric nozzle is challenging because of the rapid initial release rate. Therefore, in this study, electrospinning was conducted using dual or triple concentric nozzles to fabricate controlled DDSs. Polycaprolactone and poly(ethylene oxide) were used as the shell and core polymeric materials, respectively, and curcumin was used as the model drug. The spinning feed rate was controlled, and dual and triple concentric nozzles were used to manipulate the shell thickness of the nanofiber. Increasing the shell thickness significantly lowered the release rate. The triple concentric nozzle was effective to obtain a slower release rate than dual concentric nozzle. The coaxial electrospun nanofibers were characterized using optical microscopy and infrared spectroscopy.